Triangle Capital Corporation (TCAP) Stock Rating Lowered by Stephens

Triangle Capital Corporation (NYSE:TCAP) was downgraded by analysts at Stephens from an “overweight” rating to an “equal weight” rating in a research note issued on Friday.

Several other equities analysts have also issued reports on the stock. Bank of America Corporation lowered shares of Triangle Capital Corporation from a “buy” rating to an “underperform” rating in a report on Thursday. National Securities cut their price target on shares of Triangle Capital Corporation from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, October 24th. Zacks Investment Research lowered shares of Triangle Capital Corporation from a “hold” rating to a “sell” rating in a report on Friday, October 20th. Hilliard Lyons raised shares of Triangle Capital Corporation from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Wednesday, October 18th. Finally, Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Triangle Capital Corporation in a report on Tuesday, October 17th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Triangle Capital Corporation presently has an average rating of “Hold” and a consensus target price of $17.29.

Triangle Capital Corporation (TCAP) opened at $9.82 on Friday. The firm has a market cap of $468.82, a PE ratio of 6.10, a P/E/G ratio of 1.22 and a beta of 0.91. The company has a current ratio of 56.98, a quick ratio of 18.42 and a debt-to-equity ratio of 0.87.

Triangle Capital Corporation (NYSE:TCAP) last issued its quarterly earnings data on Wednesday, November 1st. The credit services provider reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.05). The business had revenue of $29.88 million for the quarter, compared to analysts’ expectations of $32.84 million. Triangle Capital Corporation had a negative net margin of 36.80% and a positive return on equity of 10.67%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. analysts anticipate that Triangle Capital Corporation will post 1.56 EPS for the current fiscal year.

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Several institutional investors and hedge funds have recently made changes to their positions in TCAP. JPMorgan Chase & Co. grew its holdings in shares of Triangle Capital Corporation by 649.1% during the first quarter. JPMorgan Chase & Co. now owns 16,795 shares of the credit services provider’s stock valued at $321,000 after buying an additional 14,553 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Triangle Capital Corporation by 15.3% during the first quarter. Legal & General Group Plc now owns 98,176 shares of the credit services provider’s stock valued at $1,873,000 after buying an additional 13,017 shares during the last quarter. Morgan Stanley grew its holdings in shares of Triangle Capital Corporation by 3.3% during the first quarter. Morgan Stanley now owns 333,326 shares of the credit services provider’s stock valued at $6,363,000 after buying an additional 10,678 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Triangle Capital Corporation by 567.9% during the first quarter. Bank of America Corp DE now owns 169,483 shares of the credit services provider’s stock valued at $3,236,000 after buying an additional 144,106 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Triangle Capital Corporation by 154.0% during the first quarter. Goldman Sachs Group Inc. now owns 69,597 shares of the credit services provider’s stock valued at $1,329,000 after buying an additional 42,192 shares during the last quarter. 31.39% of the stock is currently owned by hedge funds and other institutional investors.

About Triangle Capital Corporation

Triangle Capital Corporation is an internally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that provides customized financing to lower middle market companies located primarily in the United States. The Company’s investment objective is to seek attractive returns by generating current income from its debt investments and capital appreciation from its equity-related investments.

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